The Financial Services Compensation Scheme (FSCS) has declared MacFarlaine & Brooks in default.
The Greater Manchester-based firm was restricted from providing regulated activities and products by the Financial Conduct Authority (FCA) on 22 December 2020, according to the FCA register. The firm was dissolved on 17 January 2023, according to Companies House. The FSCS told Professional Adviser that it had received eight claims in total, two have been rejected and one upheld, with the remaining five in progress. All claims are for unsuitable advice relating to pensions and investments.
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